Ameriprise Financial Inc. Sells 201,342 Shares of Mueller Industries, Inc. (NYSE:MLI)

Ameriprise Financial Inc. reduced its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 29.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 479,207 shares of the industrial products company's stock after selling 201,342 shares during the quarter. Ameriprise Financial Inc. owned 0.42% of Mueller Industries worth $38,033,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MLI. New Age Alpha Advisors LLC bought a new position in shares of Mueller Industries during the fourth quarter worth about $32,000. Quarry LP bought a new position in Mueller Industries in the fourth quarter valued at approximately $45,000. SBI Securities Co. Ltd. bought a new position in Mueller Industries in the fourth quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Mueller Industries in the fourth quarter valued at approximately $53,000. Finally, City State Bank bought a new position in Mueller Industries in the fourth quarter valued at approximately $58,000. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Price Performance

MLI stock traded up $0.30 during mid-day trading on Friday, reaching $79.35. The company had a trading volume of 555,440 shares, compared to its average volume of 933,695. The stock has a 50 day simple moving average of $75.27 and a two-hundred day simple moving average of $79.67. The company has a market capitalization of $8.78 billion, a price-to-earnings ratio of 14.94 and a beta of 1.03. Mueller Industries, Inc. has a 52 week low of $53.53 and a 52 week high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.08. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1 billion. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, June 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. Mueller Industries's dividend payout ratio is currently 18.21%.

Insider Transactions at Mueller Industries

In related news, Director Terry Hermanson sold 10,000 shares of Mueller Industries stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total transaction of $743,400.00. Following the completion of the sale, the director now directly owns 100,082 shares of the company's stock, valued at approximately $7,440,095.88. This trade represents a 9.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Scott Jay Goldman sold 16,483 shares of Mueller Industries stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total value of $1,210,841.18. Following the sale, the director now directly owns 39,615 shares of the company's stock, valued at approximately $2,910,117.90. The trade was a 29.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,613 shares of company stock worth $2,198,600. 2.70% of the stock is owned by company insiders.

Mueller Industries Profile

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.